ISLAMABAD: Seven out of 34 memorandums of understanding (MoUs) signed with Saudi Arabia earlier this year have been actualized into agreements worth $560 million, Pakistani Prime Minister Shehbaz Sharif’s office said on Monday.
The announcement came after Sharif was briefed on progress made on 34 MoUs worth $2.8 billion signed between Pakistani and Saudi business in October. Pakistan and Saudi Arabia have a significant trade relationship, with Pakistan exporting mainly agricultural products and Saudi Arabia exporting mainly petroleum products.
“In a short period of time, 34 investment memorandums of understanding were signed between the two countries, out of which 7 have been given the form of agreements worth $560 million,” Sharif’s office said in a statement after he chaired a meeting to review progress on investment between Pakistan and Saudi Arabia.
“Prime Minister expressed satisfaction over the progress of various ongoing projects between the two countries,” the statement added, as the PM was briefed on discussions held at the second meeting of the Pakistan-Saudi Arabia Joint Task Force in November and informed about cooperation in various sectors.
Pakistan has pushed in recent months to strengthen trade and investment ties with friendly nations, particularly the Kingdom, which has promised a $5 billion investment package that cash-strapped Pakistan desperately needs to shore up foreign reserves and fight a chronic balance of payment crisis.
Pakistanis are the second-largest expatriate community in the Kingdom, with over 2.5 million living and working in Saudi Arabia, the top source of remittances for the South Asian nation.
Pakistan says 7 of 34 MoUs recently signed with Riyadh actualized into deals worth $560 million
https://arab.news/gxkj2
Pakistan says 7 of 34 MoUs recently signed with Riyadh actualized into deals worth $560 million
- 34 MoUs worth $2.8 billion were signed between Pakistani and Saudi business in October
- Pakistan has pushed in recent weeks to strengthen trade, investment ties with friendly nations
Pakistan U19 take on Afghanistan in tri-series in Zimbabwe
- Pakistan enter the tournament as U19 Asia Cup champions after beating India by 191 runs in Dubai
- The tri-series is seen as key preparation for next month’s U19 World Cup in Zimbabwe and Namibia
ISLAMABAD: Pakistan’s under-19 cricket team begin today their tri-series campaign against Afghanistan in Harare, using the tournament as a key preparation for the next month’s U19 World Cup co-hosted by Zimbabwe and Namibia.
Pakistan, the reigning ACC Men’s U19 Asia Cup champions, are competing in the 50-over tri-series alongside Afghanistan and hosts Zimbabwe, with each team playing the others twice before the final on Jan. 6.
Pakistan won the eight-team Asia Cup in Dubai earlier this month, beating India by 191 runs in the final, and will play a minimum of four matches in the tri-series, starting at Harare Sports Club on Saturday.
“The Asia Cup was a good win for us and the players showed great morale and intensity,” Pakistan captain Farhan Yousaf was quoted as saying by the Pakistan Cricket Board (PCB).
“The tri-series is very important for the players and will help us find the right combinations ahead of the ICC Men’s U19 World Cup.”
Pakistan will face Zimbabwe on Dec. 29 before meeting Afghanistan again on Jan. 2, followed by a second match against the hosts on Jan. 4. Matches will be played across venues in Harare, including Harare Sports Club, Prince Edward School and Sunrise Sports Club.
The tri-series is being seen as an important warm-up ahead of the U19 World Cup, which will be held from Jan. 15 to Feb. 6. Pakistan are placed in Group C and will play all their group-stage matches in Harare.
“The conditions here are similar and will be beneficial for our World Cup preparations,” Yousaf said. “Both teams in the tournament are strong and competitive and we respect every opposition as we look forward to a competitive event.”
Pakistan will open their World Cup campaign against England on Jan. 16, followed by matches against Scotland and Zimbabwe, with the Super Six stage beginning on Jan. 25 and the final scheduled for Feb. 6 at Harare Sports Club.
